General
To register a Non-Banking Financial Company (NBFC) in Delhi, India, the applicant must comply with guidelines set by the Reserve Bank of India (RBI). Here's a concise procedure: Company Incorporation: Register a Private or Public Limited Company under the Companies Act, 2013 with a financial object clause in the MOA. Minimum Net Owned Fund (NOF): Ensure the company has a minimum NOF of ₹2 crore (₹10 crore for NBFC-IFC, NBFC-MFI, etc.) in the form of equity share capital. Opening a Bank Account: Deposit the NOF amount in a bank account in the company’s name. Prepare Application Documents: Certificate of Incorporation MOA & AOA KYC and credit reports of directors Net worth certificate of directors Banker’s report Board resolution for NBFC registration Business plan for 3-5 years Online Filing with RBI: Submit an online application on the RBI COSMOS portal and obtain a Company Application Reference Number (CARN). Submission of Hard Copy: Submit the physical documents to the RBI regional office (Delhi). RBI Review: RBI examines the application for compliance, business model, and background checks of directors/promoters. Certificate of Registration (CoR): On satisfaction, RBI issues the NBFC Registration Certificate. Ensure no public funds are accepted before CoR. Also, comply with RBI’s regulatory framework post-registration.
